CES Market Summary/March Insider

March 2023

Key Takeaways

WTI closed at $79.68/Barrel on Friday, up 4.4% from the week prior. Both WTI and Brent settled at three-week highs on Friday driven by anticipated demand recovery in China and the record U.S. crude exports reported this past week. The natural gas prompt month futures price settled at $3.01 on Friday, advancing 22.86% from the previous week. Cold weather forecasts and a drop in production for the start of March drove up NYMEX prices over the week. New England electricity prices have recovered slightly since reaching their lowest price since 2021 on January 31^st. The NEPOOL 12-month strip increased 7.78% week-over-week, settling at $69.68/MWh.

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REVISED FORECAST: 2023 NEW ENGLAND ENERGY TRENDS AND THE IMPACT ON CONSUMERS

By Keith Sampson, Senior Vice President, Energy Services

In his January 2023 blog titled “New England Energy Trends in 2023: What’s on Keith Sampson’s Mind,” Keith shared his viewpoint on energy market trends for 2023. With the first quarter of the year nearly complete – and with more information at hand – Keith shares a revised forecast for 2023 New England energy trends, including his thoughts on the impact of the Russia-Ukraine conflict – one year into the war that has singlehandedly changed the energy market across the world over the last year....

Harsh Oswal joined CES in 2023 as a Data Engineer after completing his Master of Science in Information Systems from Northeastern University in Boston. He has experience as a Data Transformation Developer at Charles River Laboratories in Wilmington, MA and as a Software Developer at Mag Herd Media and Aptlogica Technologies in Pune, Indi. He has hands-on experience in developing and deploying data-driven applications and dashboards in enterprise settings, as well as leading teams and automating workflows. With a comprehensive understanding of databases, data science, business analysis, and machine learning, Harsh is poised to make valuable contributions to CES and drive their data initiatives forward.

Ora Rogovin joined Competitive Energy Services as an Energy Analyst in 2023. She previously worked as a research assistant on data analysis projects at New York Medical College and Brandeis University and contributed to conservation research at the Cincinnati Zoo’s CREW Center. Ora graduated from Brandeis University in 2020 with a B.A. in Neuroscience and Music.

Photos by Nina Callanan

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